'Bithumb Real Owner Suspicion' Kang Jong-hyun, Executive of Bithumb Affiliate Who Destroyed Evidence Sentenced to 1 Year 6 Months in First Trial

[Asia Economy Reporter Hwang Seoyul] An executive of a Bithumb affiliate was sentenced to prison for destroying evidence related to businessman Kang Jonghyun, who is suspected to be the actual owner of the cryptocurrency exchange Bithumb.

On the 19th, Judge Choi Seonsang of the Seoul Southern District Court Criminal Division 10 sentenced Lee, an executive of Bithumb affiliate Bucket Studio, to 1 year and 6 months in prison on charges including evidence destruction. The court stated, "The defendant swiftly destroyed and concealed evidence following reports of Kang Jonghyun's embezzlement charges, and the amount of evidence destroyed was considerable. He played a central role in this case and even instructed subordinates to commit the crime."

However, the court acquitted Lee of charges related to the disposal of the vehicle black box memory. The court explained, "Disposal of the vehicle black box memory can be seen as destruction of one's own crime or that of others, but according to Supreme Court precedents, this does not constitute the crime of evidence destruction."

Previously, Lee was prosecuted on charges of removing important company documents and replacing or disposing of evidence such as CCTV footage after the prosecution launched a forced investigation into Kang, who is suspected to be the actual owner of Bithumb and a key figure in the affiliate embezzlement case. The prosecution had uncovered evidence that Kang and his younger sister Jiyeon colluded to embezzle company funds or manipulate stock prices, and in October of last year, they conducted raids on Bithumb affiliates including Bident, InvioGen, and Bucket Studio.